Why Freelancing Is A Growing Industry

Freelancing is a growing industry for good reason. It is estimated that about 55 million Americans are freelancers and it has been projected that by 2020, 50% of the workforce might be freelancing in some capacity. With the rise of new technologies through mobile devices, there has been more opportunities for freelancers than ever before and millennials are jumping on the bandwagon quickly.Young people who are looking to find a job are using technology to help ensure they aren’t stuck waiting and falling into unemployment. They are seeking work out on a number of platforms and creating their own job opportunities through freelancing. Side hustles or whatever you want to call it are becoming they way millennials are employing themselves.

The Flexibility of Freelancing

For awhile now it seems that there has been a lot of attention in the news about how millennials are having a hard time finding the jobs that they are passionate about, while dealing with mountains of student debt. They don’t want to move from urban areas for a job and have been having a hard time reconciling their wants and needs giving rise to the impression that they are spoiled, entitled and without a concept of reality. Freelancing allows them to do exactly all that. There are many ways now in which someone can use all of their different skills and take on multiple contracts at different companies, creating a full time employment position all while working from home. All you need is some mobile devices, like a good laptop, be relatively tech savvy (to make the most of all the apps available to freelancers) and you can find work, and there is work to be found.

Freelancing Offers More Full Time Options Than Contract Work

For sometime now, companies have been using contract work as a more cost efficient way of running their business. Taking on a full time employee is a big investment, but a contract worker is not, if they work out well then you can offer a full time position, but only after you feel that the contractor is a good fit. It's smart business. The problem with contract work is that the contract workers feel as though they can not plan for their future. As a full time freelancer you can take on multiple contracts and take more of the control back, setting your own terms such as your pay and work hours. Freelancing is a happy medium that gives workers consistency and companies the cost efficient benefits of not hiring a full time employee. It's a win win situation.

Freelancing Offers Work Life Balance

Freelancing also helps create a great work life balance. From the mom that wants to spend more time with her kids, to the 26 year old that is just straight up not a morning person, freelancing offers flexibility. There is no shortage of ways to virtually connect with a company and feel part of a team when need be and there are no shortage of freelance sites that are loaded with contracts that freelancers can pick and choose from that fit their skill sets.

Freelancers Are The New Solopreneurs

Much like an entrepreneur, freelancers need to be self reliant, the security of having a full time job with benefits and a pension is becoming a rarity but the benefits of controlling what you work on when you want is even better.

It's no wonder that this industry is seeing such growth. For more information on freelancing, check out our blog posts and sign up to Sage Groupy today.

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